Despite some positive news on inflation and a possible settlement in Reliance Industries, the index was meeting with resistance, and there was also a lack of buying ahead of the advance tax payment on June 15.

The recommendation is to go for commodities such as soy and cotton, which you can benchmark against global prices.

Results expectations have started building in the stock prices. One needs to be cautious at these levels and trade with strict stop losses.

We look forward to working with NYBOT to help the Indian cotton and sugar industries to hedge their price risk more efficiently.